Catamaran Ventures, the family office of Infosys co-founder NR Narayana Murthy, on Friday said it has appointed MD Ranganath as its chairman and Deepak Padaki as its president.
Prior to the appointment as chairman, Ranganath was president for the last three years at Catamaran where "he was instrumental in creating a strong foundation for growth of the firm's investments and their performance", said Catamaran in a statement.
Ranganath joined Catamaran in 2019 from HDFC Bank where he was independent director at the private lender. Previously, he was with Infosys for 18 years (2000-18) and with ICICI Bank (1991-1999).
Prior to the appointment as president, Padaki worked with Infosys for three decades. He left the software services company earlier in June this year. In his latest role at Infosys, he was executive vice president-strategy, M&A and chief risk officer.
In his new role at Catamaran, Padaki will be responsible for driving the firm's investment management strategy, the statement said.
Catamaran's investments include unicorns such as online insurance startup Acko and business-to-business (B2B) e-commerce platform Udaan. A unicorn is a privately-held startup that has a valuation of at least $1 billion. It also invested in Prione Business Services, a joint venture with Amazon that housed Cloudtail, one of the largest sellers on the ecommerce major’s Indian platform. Earlier in March, the Competition Commission of India (CCI) cleared Amazon's proposal to buy Catamaran's stake in Prione.
Earlier in March, Catamaran participated in the Series A funding round of gaming platform Loco.
